The Legacy Circle

The ACOFP Education & Research Foundation would like to recognize the following Legacy Circle Members:

The Legacy Circle Gold Member

· Eugene D. Pogorelec, DO, FACOFP dist.

The Legacy Circle Members

· Jeffrey S. Grove, DO, FACOFP dist.

· James Michael Lally, DO, FACOFP

· Mrs. Gery Namey

· M. Jay Porcelli, DO, FACOFP dist.

PROGRAM DETAILS

When you make a gift to the ACOFP Education & Research Foundation through your will, trust, or retirement plan, you're nourishing the generation of osteopathic family physicians to come. Learn more about the The Legacy Circleand ways you can support the ACOFP through a planned gift.

Learn more about The Legacy Circle and ways you can support the ACOFP through a planned gift bequests in a will or living (revocable) trustBequeathing personal assets is an admirable way to leave a legacy for osteopathic family medicine. Bequests are most often satisfied with cash and/or marketable securities. A donor should consider designating a specific amount or a percentage of his or her estate. Note that the amount of the gift to the ACOFP Foundation will be deducted from a donor’s gross estate prior to computing federal estate tax.

Current Gifts of Life Insurance Consider donating an existing life insurance policy to the ACOFP Foundation. Many people have paid-up life insurance policies that no longer require premium payments. A donor may find such a policy is an excellent way to satisfy his or her charitable desires. A gift of a paid-up policy entitles the donor to an income tax deduction equal to the lesser of either the cash value of the policy or the total premiums paid.

Naming the ACOFP as beneficiary of a life insurance policy If there are still premiums payables on an existing unneeded life insurance policy, consider naming the ACOFP Foundation as the policy’s beneficiary. Kindly note that life insurance proceeds are generally subject to estate taxes, but life insurance proceeds payable to the ACOFP Foundation are not subject to estate tax.

Naming the ACOFP as the beneficiary of an IRAMany potential donors have accumulated funds in a pension plan, individual retirement account, or other tax deferred vehicle which are no longer needed for the donor’s or his family’s financial security. Naming the ACOFP Foundation as a beneficiary of retirement plans and IRAs is particularly tax efficient, because:

Retirement assets passing to the ACOFP Foundation are not subject to income tax. Retirement assets payable to a donor’s children could be subject to income tax at a rate of 39.6%.

Retirement assets passing to the ACOFP Foundation are also not subject to estate tax (at a maximum rate of 40%).

It is possible that the income and estate taxes payable on retirement account assets payable to children may exceed 60% of the value of the retirement account.

As you plan for your future, consider including the ACOFP Foundation in your long-term goals. All financial decisions should be discussed with your legal and tax advisors. Please contact the ACOFP Foundation if you are interested in becoming a member of the The Legacy Circle by calling 800.323.0794.